VTV Analysis - Socioeconomic Benefit-Investment Analysis of Technology Development Initiatives
Identifying the benefits and projecting the payback of industrial consortia
A not-for-profit government funded organization, HereToHelpYou needed to assess the benefits and positive impacts of the research and technology development projects that it supported. They wished to examine and quantify both the tangible and intangible benefits. The financial support was known to provide benefits in terms of business development, as well as related benefits such as job creation, the fostering of subsequent technology development through spin-off opportunities, and the development of expertise both at the university and in the workplace. Many of these intangible benefits were difficult to quantify.
HereToHelpYou wished to have an assessment of the fundamental financial benefits achieved through its programs. It was necessary to obtain unbiased third party input that could demonstrate the benefit of supporting technology developments. HereToHelpYou felt that such an analysis would assist in providing the justification for continuation of its government support.
The VTV Analysis (Vertex Intellectual Property Strategies Inc.'s proprietary method for carrying out an economic benefit-investment evaluation of technology development initiatives) was utilized by the Vertex project team to assess one project that HereToHelpYou had helped fund.
The results of the study demonstrated the far reaching value of government support for new technology development. The analysis indicated that the research work generated a benefit-investment ratio of approximately 30; or in other words, there was $30.00 of benefits for every $1.00 of funding provided. This analysis provided HereToHelpYou with another means to demonstrate its value to its funders.